Vivo Energy to increase S. Africa investment

Vivo Energy, backed by Vitol, will inject 10 billion rand ($550.79 million) into its South African operations post-merger with Engen, according to Reuters citing South Africa’s Trade Minister, Ebrahim Patel.

This commitment aims to safeguard jobs and uphold supply agreements with local refineries, as mandated by regulators. The investment includes allocations for green energy, infrastructure, and operations upgrading, with a potential additional 4 billion rand for biofuels and marine infrastructure.

Engen is obligated to continue purchasing fuel from local refineries, ensuring stability. The merger was finalised after regulatory approval, with Vivo Energy now boasting over 3,900 service stations across 28 African markets. Vitol reaffirms Africa, particularly South Africa, as a key investment focus.